Bounty Acts Amendment Act 1982

No. 21 of 1982

An Act to amend the Bounty (Drilling Bits) Act 1980 and the Bounty (Non-adjustable Wrenches) Act 1981

[Assented to 3 May 1982]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

PART I—PRELIMINARY

Short title

1. This Act may be cited as the Bounty Acts Amendment Act 1982.

Commencement

2. This Act shall be deemed to have come into operation on 1 January 1982.

PART II—AMENDMENTS OF BOUNTY (DRILLING BITS) ACT

1980

Principal Act

3. The Bounty (Drilling Bits) Act 19801 is in this Part referred to as the Principal Act.

4. Section 4 of the Principal Act is repealed and the following section is substituted:

Bounty periods

“4. Each of the following periods is a bounty period:

(a) the period of 12 months that commenced on 1 October 1979;

(b) the period of 12 months that commenced on 1 October 1980;

(c) the period of 3 months that commenced on 1 October 1981;

(d) the period of 12 months commencing on 1 January 1982.”.

Rate of bounty

5. Section 8 of the Principal Act is amended—

(a) by omitting “The amount of bounty payable in respect of a bountiable drilling bit” and substituting “Where bounty became payable in respect of a bountiable drilling bit during a bounty period referred to in paragraph 4 (a), (b) or (c), the amount of bounty so payable”; and

(b) by adding at the end thereof the following sub-section:

“(2) Where bounty becomes payable in respect of a bountiable drilling bit during the bounty period referred to in paragraph 4 (d), the amount of bounty so payable is—

(a) where the diameter of the bit is less than 127 millimetres—$20;

(b) where the diameter of the bit is not less than 127 millimetres but is less than 152 millimetres—$37.50;

(c) where the diameter of the bit is not less than 152 millimetres but is less than 177 millimetres—$45;

(d) where the diameter of the bit is not less than 177 millimetres but is less than 203 millimetres—$62.50; and

(e) where the diameter of the bit is not less than 203 millimetres—$80.”.

Limit of available bounty

6. Section 9 of the Principal Act is amended by omitting paragraphs (1) (a) and (b) and substituting the following paragraphs:

“(a) in the case of a bounty period referred to in paragraph 4 (a) or (b)—$150,000;

(b) in the case of the bounty period referred to in paragraph 4 (c)—$37,808.22; and

(c) in the case of the bounty period referred to in paragraph 4 (d)—$75,000.”.

PART III—AMENDMENTS OF BOUNTY (NON-ADJUSTABLE WRENCHES) ACT 1981

Principal Act

7. The Bounty (Non-adjustable Wrenches) Act 19812 is in this Part referred to as the Principal Act.

8. Section 4 of the Principal Act is repealed and the following section is substituted:

Bounty periods

“4. Each of the following periods is a bounty period:

(a) the period of 12 months that commenced on 1 July 1980;

(b) the period of 6 months that commenced on 1 July 1981;

(c) the period of 12 months commencing on 1 January 1982.”.

9. Section 8 of the Principal Act is repealed and the following section is substituted:

Rate of bounty

“8. The amount of bounty payable in respect of a bountiable implement is—

(a) where the bounty became payable during a bounty period referred to in paragraph 4 (a) or (b)—11 cents; and

(b) where the bounty becomes payable during the bounty period referred to in paragraph 4 (c)—5.5 cents.”.

Limit of available bounty

10. Section 9 of the Principal Act is amended by omitting paragraphs (1) (a) and (b) and substituting the following paragraphs:

“(a) in the case of the bounty period referred to in paragraph 4 (a)—$620,000;

(b) in the case of the bounty period referred to in paragraph 4 (b)—$312,547.94; and

(c) in the case of the bounty period referred to in paragraph 4 (c)—$310,000.”.

NOTES

1. No. 33, 1980.

2. No. 18, 1981.